The industrial site, in Burnaby Road, north Coventry, has been bought from Clowes Developments with planning permission for 223 residential units ranging from two- to four-bedroom homes.
Persimmon is already developing an adjacent industrial site between Burnaby Road and nearby Holbrooks Park.
The new site was, reportedly, where the first Aston Martin was manufactured in 1915. But the building has become rundown, the land is contaminated and there is evidence of asbestos across the plot.
The section 106 planning agreement stipulates that the developer must pay £1.94m towards local educational services, £264,000 for local parks and £49,000 for a bike hut.
Neil Williams, managing director of Persimmon Homes Central said it was “a hugely exciting development”.
He said: “This is a continuation and additional phase of our current and successful Whitmore Place development. Demolition is due to start this August and be completed by late summer with the development commencing soon after and early occupation planned for later in 2023.”
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